The following subsidiaries were amalgamated into the Parent on 31 March 2012:

Cobb Power Limited

New Zealand

Asset holding

TrustPower Oamaru Limited

New Zealand

Call services operator

Esk Hydro Power Limited

New Zealand

Generation development

Taheke Geothermal Limited

New Zealand

Generation development

Waikaremoana Power Limited

New Zealand

Generation development

Paehinahina Mourea Geothermal Limited

New Zealand

Generation development

Under the amalgamation the Parent took control of all the assets of these subsidiaries and assumed responsibility for their liabilities. These subsidiaries have been removed from the New Zealand register of companies. The table below shows a summary of the effect of amalgamation on the financial statements.